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PSM_GOVPROC_JFMIP: Prompt Payment Act Enhancements in SAP SRM (New) ( RELNPSM_603_GPR_PPA )

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PSM_GOVPROC_JFMIP: Prompt Payment Act Enhancements in SAP SRM (New)

Use

As of SAP ECC 6.0, Enterprise Extension Public Sector Management (EA-PS 603), Enhancement Package 3, Business Function Financial Integration with EA-PS, the following Prompt Payment Act (PPA) functions are supported:

• Fast Pay as defined in the U.S. federal government's Prompt Payment Act and the Federal Acquisition Regulation

You can specify for a line item in a SAP Supplier Relationship Management (SRM) contract or purchase order that it is subject to Fast Pay procedures. This means that payment is made within a limited time period of receipt of an invoice without proof of receipt of goods or services. If payments are not made within this time period, they are subject to a PPA interest penalty. When you identify a line item as subject to Fast Pay procedures, prompt pay terms are set in ERP. When the invoice is paid in ERP, the line items are checked in accordance with the Prompt Payment Act.

• A user-defined acceptance period for SAP SRM contracts and purchase orders

You can define an acceptance period in days for a contract or purchase order. This acceptance period defines the time period that a purchaser has to accept goods, after which the acceptance period is used to determine a PPA-constructed acceptance date. This acceptance period is also used in the calculation of PPA payment due dates and PPA interest calculations. You use this function if you want to specify an acceptance period longer than the default seven days as specified in the PPA. If no acceptance period is specified, the default value of seven days is used. The acceptance period that you enter is checked in ERP at goods receipt.

For more information about other Prompt Payment Act enhancements in Enhancement Package 3, see release note Enhancements to Prompt Payment Act (Changed).

Effects on Existing Data

You have SAP Supplier Relationship Management 6.0 (SAP SRM 6.0) and SAP Procurement for Public Sector 2007 (SAP PPS 2007) installed on your system.

Effects on Data Transfer

Effects on System Administration

Effects on Customizing

You make the Customizing settings for this function in Customizing in the Public Sector Management Implementation Guide (IMG) by choosing Functions for US Federal Government -> Payment Processing -> Prompt Payment Act

Further Information

For more information, see the main release note for business function Financial Integration with EA-PS.

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Length: 3302 Date: 20240523 Time: 061340     sap01-206 ( 58 ms )